Global CFO Excellence Awards 2020

Acquisition International - Global CFO Excellence Awards 2020 5 May20024 BCGroup was the first private free-to-air satellite broadcasting company in the Arab world, having initially launched in London back in 1991 before later moving its headquarters to Dubai in 2002. In the past three decades, MBC Group has become one of the most formidable and strongest media groups in the Arab world. With a treasure trove of television channels and digital platforms covering entertainment, interaction, and information, MBC Group has been enriching the lives of people everywhere across and beyond the Middle East. It is said that the wind blows the fastest on the top of the mountain. As much as it is hard to reach to the top, it is much harder to retain that position. Understanding this challenge, MBC group has handed over its financial reigns in the most capable hands of their Chief Financial Officer, Hussam Al-Nouri who heads a top-performing finance operation and takes a lead role in setting financial strategies for the Group. Over the past two decades, Al Nouri has played several key role across the banking, finance and media industries. Challenging status quos has always been his second nature. He did not want to limit his capacity to a typical finance leader who ensures that the organization has a strong balance sheet and cash position to ride through the year. He brushed up his value management, business restructuring and business-streamlining skills that allowed him to drive the lean agenda in the organizations he served. They say, ‘old habits die hard’ and Al-Nouri admits that he always had a soft corner for numbers and analytics. This drove him to pursue his degree in Finance and Accounting while working with Commercial Bank of Syria (CBS), where he has moved between may departments until he was appointed as the project lead supervisor aiming to restructure CBS Bank operations after completing his executive banking studies from Bankakademie International & Commerzbank AG-Frankfurt. His media journey started in 2002 when he moved to Dubai and joined MEN-Middle East News. He was entrusted to set up the financial structure of Al Arabiya News channels operations and international offices. He became part of the MBC Group in 2008 as Senior Finance Manager and proved himself to be one of the most sagacious financial executives in the business. He rose through the ranks of Financial Controller to Director while pursuing his MBA degree from Manchester University, and eventually becoming the CFO in February 2019. A creative environment thrives on advancement because of constantly changing environment. Al-Nouri believes that adaptability and agility are key attributes to run a robust function. While adhering to financial parameters that cater to multiple stakehodlers, he ensures M With a history that stretches across nearly three decades and includes multiple continents and capital cities, MBC Group is one of the best and most prolific media & broadcasting groups currently at work in the Middle East. Helping to carve out a new chapter in its increasingly bright future is CFO Hussam Al-Nouri. We profiled the group and the man himself to find out more about their journey together, and what the future might hold for them both. Broadcast Media Finance Leader of the Year 2020 (Middle East): Hussam Alnouri that he and his team welcome change with open arms and are always game for creative and calculated risks. Al-Nouri proudly attributes his corporate success to his ever-growing appreciation for innovation with eyes firmly set on the bottom-line impact. In his own words ‘It’s important to lead from the front by setting the right example and expectations. Everyone you work with should be aware of their finishing lines but at the same time that should not become their ultimate goal; else no one will be motivated to over-deliver. Everyone who delivers outside their comfort zones is rightly rewarded’. He further added that ‘a cohesive and empowered team is critical to an organization’s sustainability and success. We have created seamless swim lanes within finance which ensures that everyone is contributing to their maximum potential.’ He takes utmost pride in the fact that like other areas of the organization, the finance function too has gone for a makeover through innovation, digitalization and automation. ‘I am an avid follower of continuous improvement and I feel proud to hear the team talk passionately about possible new features of a reporting tool. It is interesting to learn how automation has considerably reduced the reworks and has added to accuracy, timeliness and productivity.’ He acknowledges that finance professionals often fall under the trap of silo-mentality, hence he widely encourages holistic assessment behavior. As per him, the ability to look at the bigger picture is a key characteristic for effective financial management. Finance often requires no small amount of foresight to see where money is going and where it might go. ‘One cannot anymore make a decision based on short-term view’ states Al-Nouri. As per him, a money spent today could very well disguise itself as an immediate benefit but over a period of time it could cost a fortune to the business; hence as true business-partner he ensures that he challenges such decisions that do not make commercial sense for the group as a ‘whole’. It seems like Al-Nouri strongly holds on to the thumb rule of possessing the enterprise-wide knowledge from his banking days. Technical capabilities, adaptability, solid work ethics and foresightedness have proven to be Al-Nouri’s propellers as the CFO and in life in general. As media continues to be a dominant form of entertainment, information, and inspiration for many people around the world, Mr Al-Nouri’s techniques and traits continue to be vital for the people of the Middle East and beyond. Company: The MBC Group Contact: Hussam Al-Nouri Website: www.mbc.net